Monday, March 8, 2010

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) may get a chance at securing land near its existing mining operations in New Mexico, as the Bureau of Land Management is looking to sell close to 1,300 acres close to the Gila National Forest.

In the past Freeport-McMoRan has evidently had some interest in the six parcels being offered, but was slow to commit to whether they parcipate in acquiring the land if the offer is officially made.

At this time it would take anywhere from one to three years for the BLM to sell the property, and it has yet to be officially appraised.

Freeport spokesman Eric Kinneberg said at this time there are no existing plans to "change operations" in New Mexico.